Saturday, October 25, 2008

Stelmach's energy bambit is an outright lie!

Alberta's Energy gambit is an outright lie; a grandee waltz between the oil companies and Stelmach's crew.
Mel Knight, prior to the last election, changed our currency take on royalty from US$ to Canadian$ knowing full well the balance between the two countries was at an 85 cent dollar.

Today at an 80 cent dollar Albertans are loosing 20% of their royalty program through exchange!

Add to this the current rate of 19% taken as a royalty rather than 25% as originally contracted and you have a total of 26% loss in royalty to the province of Alberta.

Mr. Boutilier Alberta's former bad guy minister of Environment gave up another nugget of information that demonstrates just how low our oil regime is:
There is absolutely nothing in Stelmach's deal that could give this amount of money back to Albertans. In effect his election gambit was a charade giving the oil companies a further reduction in royalty payments while telling Albertans they would be getting more!
"But we're still waiting for the federal government. Stephen Harper has to come into the sandbox," said Boutilier, noting that the federal government gets more out of the oilsands in taxes than the provincial government.
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